Golden Predator Intersects 1.00% Tungsten (WO3) Over 11.4 Feet at Springer
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 11, 2008) – Golden Predator Mines Inc. (TSX:GP) is pleased to report it has intersected, near surface, high grade tungsten mineralization in drilling at its wholly-owned Springer tungsten project in Pershing County, Nevada.
Assay highlights include:
Sutton South Area
2.24% WO3 over 4.6 feet (1.4 m)
0.43% WO3 over 7.0 feet (2.1 m)
George Bed Area
1.00% WO3 over 11.4 feet (3.5 m)
(All intervals are true thicknesses)
Golden Predator announced the first drill results ever reported from the George beds in a news release dated July 9, 2008. This target is located approximately one half mile to the northwest of the South Sutton area, for which earlier results were announced in news releases dated April 30, 2008, June 5, 2008, June 16, 2008; and June 25, 2008. Drilling in the George area lies outside of the historical tungsten resource for Springer of 3.59 million tons grading 0.446% WO3 reported by the General Electric Company in March 1983 and cited in Golden Predator’s previous news release dated April 28, 2007.
When commenting on the George bed drilling, Steve Vanry, President of Golden Predator stated: “this near-surface tungsten mineralization compares favorably in grade to the historic resource estimates for the Sutton zone at Springer and demonstrates that while General Electric designed the project around a vertical shaft, a surface target for tungsten mineralization also exists. As a result of this drilling, we recently engaged SRK Consulting of Lakewood, CO to produce a resource estimate for the George area and look forward with anticipation to the results coming from this work.”
Golden Predator has completed more than 200 reverse circulation drill holes within near-surface tungsten mineralization over three separate areas on the Springer property since late 2007. Drilling was interrupted in late August to allow for the receipt of outstanding laboratory assays and the initiation of resource modeling by SRK. Assays will continue to be reported as they come available.
——————————————————————– —— Springer Mine Drill Assay Highlights ——————————————————————– —— Drill Hole #________From, ft______ To, ft____ True Thickness, ft____ WO3 % ——————————————————————– —— ——————————————————————– —— Sutton South area ——————————————————————– —— ——————————————————————– —— SMC-052(i)________________70__________ 80____________________7.7______0.37 ——————————————————————– —— SMC-
2__________________176__________182____________________4.6______2.24 ——————————————————————– —— ——————————————————————– —— SMC-
3__________________186__________200____________________7.0______0.43 ——————————————————————– —— ——————————————————————– —— ——————————————————————– —— ——————————————————————– —— George Bed area ——————————————————————– —— ——————————————————————– —— SMC-
9__________________240__________250____________________4.2______0.66 ——————————————————————– —— ——————————————————————– —— SMC-
9__________________124__________128____________________1.8______0.56 ——————————————————————– —— ——————————————————————– —— SMC-
9__________________408__________418____________________2.1______0.83 ——————————————————————– —— SMC-
9__________________426__________464____________________8.0______0.56 ——————————————————————– ——
ding:______________426__________434____________________1.7______0.84 ——————————————————————– —— ________________________ 448__________464____________________3.4______0.89 ——————————————————————– —— SMC-
9__________________484__________498____________________2.9______0.41 ——————————————————————– —— ——————————————————————– —— SMC-171__________________100__________126__________________ 11.4______1.00 ——————————————————————– —— ——————————————————————– —— SMC-172__________________ 44__________ 48____________________2.9____ 0.983 ——————————————————————– —— ——————————————————————– —— (i) Denotes previously released ——————————————————————– ——
Laboratory Analysis and QA/QC
ALS CHEMEX of Reno, NV performed all primary lab analyses. Their sample preparation procedure is described in Golden Predator’s news release of April 30. The QA/QC procedures being followed by the Company for reverse circulation drilling are those recommended by William R. Gilmour of Discovery Consultants of Vernon, BC in his report dated Feb. 11, 2008 entitled: “Proposed Sample Preparation and Analytical Procedures and Proposed Quality Control / Quality Assurance Programs for a RC Drill Program Springer Property for Golden Predator Resources Inc.”
Chip samples are collected at the drill on two-foot sampling intervals. All of the drilled material is recovered. Each sample for which scheelite is noted using an ultraviolet light, along with an appropriate buffer zone on each side of the mineralized sample, is sent to the ALS Chemex sample preparation facility in Winnemucca, NV. After ALS Chemex pulverizes the samples, they are returned to Springer where they are repackaged and relabeled. Prior to resubmitting the samples to ALS Chemex for analysis at their Vancouver laboratory, two tungsten standards, one of which is a blank, as well as a duplicate split pulp sample are inserted along with the pulped samples with one standard, one blank and one duplicate submitted at a minimum for every twenty samples.
Permitting at Springer
The company has been notified by the Bureau of Mining Regulation and Reclamation that the two final permits needed to operate the tungsten mill may not be issued until late 2008. This delay will necessarily push back the start-up target date for operational status of the Springer mill into 2009. This delay, however, results in a more favorable start-up period for the mill (spring/summer as opposed to winter) and allows for ongoing resource modeling to catch up with mill rehabilitation efforts. Construction of a new tailings impoundment and final installation of exterior mill components is expected upon receipt of the outstanding permits.
Information presented here on QA/QC procedures and historical resource estimates was reviewed and approved by Art Ettlinger, Ph.D., P. Geo. the CTO of the company and a Qualified Person as defined under National Instrument 43-101. All historical resource estimates quoted herein are based on prior data and reports obtained and prepared by previous operators and certain other information. The historical estimates should not be relied upon. No qualified person (as defined by NI 43-101) has done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Golden Predator has not completed the work necessary to verify the classification of the mineral resource estimates and is not treating the historical estimates as current mineral resources or mineral reserves as defined in sections 1.2 and 1.3 of NI 43-101. Further work will be required to evaluate these resource estimates.
About Golden Predator
Golden Predator is a tungsten and gold mining company focused on mineral development in Nevada and surrounding states. The company’s aggressive growth strategy has uniquely positioned it to simultaneously develop core assets in tungsten, gold and silver including the 100% owned Springer tungsten and Taylor silver mill complexes in Nevada.
Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Golden Predator’s actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: volatility of natural resource prices; product demand; market competition and risks inherent in the company’s operations. These and other risks are described in the Company’s public filings with Canadian Securities Regulators available at www.sedar.com.
For more information please see our Website at www.goldenpredator.com, or send questions and comments to firstname.lastname@example.org.
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